A Used Car Dealer Bond is a legal contract that guarantees and protects customers. The Dealer Bond promises to provide aid in the recovery of financial loss resulting from dealer fraud or unethical business activity. Most states require motor vehicle dealers to procure a Surety Bond in order to operate legally. The Bond also acts as a line of credit and assists in regulating the Dealer industry. An Auto Dealers Bond conveys credibility to both current and future customers.
The typical participants of a dealer bond are: Obligee – The government entity or individual requiring a “principal” to be bonded. Principal – The primary person who is required to be bonded. Surety – financial guarantor who assures the “obligee” that the “principal” can perform the task. Let our professional and highly-skilled staff support you through the most confusing part of the dealer licensing process. NOTE: The Dealer is responsible for reimbursement of any paid bond claim.
Related FAQs
Although we can place a wide variety of bonds, specializes in Car Dealer Bonds (aka Used Car Dealer Bonds or Auto Dealer Bonds), Vehicle Registration Service Bonds, Motor Vehicle Ownership Bonds (aka Defective Title Bonds) Car Wash Bonds, and California Immigration Consultant [...]
Your Car Dealer Bond has invested in technology that allows you to pay with an electronic check which makes the payment process nearly instantaneous. This technology allows you to literally take a picture of your check and text it to us or fax it [...]
You can always call one of our friendly staff members for assistance however, Your Car Dealer Bond will notify you approximately 30 days prior to your expiration date. Depending on your preference, you can make payment by check, debit card, and most major credit [...]
We can issue surety bonds the same day as all documents and payment is received. Our proprietary process involves various methods to help speed things up just for you. From the manner in which we can accept payment to the ability you have to track [...]
